The U.S. Small Business Administration has opened a center in Trumann to help businesses recover from recent storms and tornadoes in Northeast Arkansas.
The center, located at Arkansas State University's Newport Adult Education office at 212 S. Melton Ave., is a partnership with the Arkansas Small Business and Technology Development Center. The recovery operation will be open Monday-Friday from 9 a.m.-6 p.m. and offer a wide range of services to small businesses. No appointment is necessary and consultation is free.
"Due to the severe property damage and economic losses inflicted on Arkansas businesses, we want to provide every available service to help get them back on their feet," said Tanya N. Garfield, director of the SBA's Disaster Field Operations Center-West. "SBA representatives will meet with each business owner to explain how an SBA disaster loan can help finance their recovery."
Businesses of any size and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other assets. SBA also offers economic injury disaster loans to small agricultural cooperatives, small businesses engaged in aquaculture and most private, nonprofit organizations of any size.
Deadline to apply for a property damage loan is Feb. 22; deadline for economic injury loans is Sept. 23.